Tag: Bitcoin
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Literal
I misuse Dillinger’s Law often in a generic or metaphorical way. Why X? Because X is where the money is. Bankman-Fried’s push to regulate and legitimize bitcoin was a precisely literal case of Dillinger. Sam wanted to make his fraud a legal part of the financial system so he could rob banks. = = =…
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Mister Restitution speaks
Yahoo Finance is interviewing Kenneth Feinberg, The Restitution Man. He knows better than anyone else how to distribute the assets from complex semi-criminal enterprises. He brings out a basic fact: Many of Sammy’s creditors are criminals who knew they were laundering criminal money. He doesn’t quite hit the exact analogy. Bitcoin is counterfeit. Bitcoin was…
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Getters again
Earlier I diagnosed APs and fake movements by their focus on relatively trivial problems. A more refined version is appearing in two current movements. It’s the old getter or sacrificial lamb routine. In the movement against the “virus” holocaust, most of the activists started out opposing the entire demonic monstrosity. After RFK Jr got into…
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Gangsters take care of their own
Sammy has been released on bail IN THE CUSTODY OF HIS PARENTS. This is like releasing Thomas Gambino to the custody of Carlo. Looking up more about Thomas, the parallel is strong. Thomas played the Effective Altruism game to the hilt. Got a college education and engaged in massive “philanthropy” while stealing and killing. =…
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Hypothesis
Wolf does his usual excellent graph and excellent explanation on the bankruptcy of a bitcoin “mining” company. The graphs for SPACs and IPOs are so consistent that they suggest a hypothesis. IPO = LBO. The usual myth tells us that an IPO is designed to provide capital for a company to grow. The graphs tell…
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Terse
From Reddit: a simple and terse and elegant description of the entire blockchain enterprise. Would taking crypto out of your “product” change the product any more than taking the stone out of the stone soup? Says it all. = = = = = The same model applies to our fake emergencies and panics as well…
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Real Shannon
I think I’ve written this before, but I feel like doing it again. The sudden switch from free money to tight money, Share Value to profit, QE to QT, must have been a genuine Shannon event. Fully unexpected, not telegraphed or predictable in advance. It caught lots of corporations and Experts and Influencers off guard,…
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Where are the goddamn philosophers?
A young congresscritter named Himes was discussing Sam’s arrest and yesterday’s “hearing”. He said that Sam had spent a lot of time on Capitol Hill in the last two years, “educating” Congress about how bitcoin works. Himes thinks he “knows” how it works thanks to Sam, so he will help to craft the regulations that…
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Spoiled brat
Supposedly Sam’s lawyers tried to prevent his arrest and jailing by pleading vegan and ADHD. He won’t be able to get his chosen diet in jail, and he shouldn’t be jailed because he needs his Adderall or whatever. Fortunately the Bahamas authorities didn’t listen. A couple weeks in a REAL jail might do him a…
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YES!
Brad Sherman told the truth about the entire blockchain enterprise in the “investigation” this morning. “Sam is not a snake in the Garden of Eden. The whole area is a garden of snakes.” Just now in an interview with Yahoo: “I would urge them to take those animal spirits and invest in real companies that…
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Gotcha.
Sam was arrested yesterday by the authorities in the Bahamas. Lesson: When your criminal syndicate depends on currying the favor of demons who are BIGGER THAN YOU and MORE EXPERIENCED AT THE DEMON GAME, you shouldn’t go around taunting the demons. His accomplice Caroline played a smarter game by turning snitch against Sam. Musical accompaniment.
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Another waste of talent
Skimming through the thousands of updates on nonsense projects like NFT and DAO, I’m struck by another waste. The waste of tech skill is obvious to a nerd like me, but I was slow to notice the waste of sales skill. Every one of these offers is creatively persuasive, putting together nonsense buzzwords in a…
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Not dumb
For contrast, one of the anticoin redditors is brilliantly comparing the Madoff “fraud” with the Bankman-Fried fraud. He found an old government press release from the task force assigned to undo Madoff’s mess. The government managed to refund 88% of the losses. This means that Madoff and his partners OWNED most of the money needed…
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Not a horseshoe
Many of the bitcoin commentators are trying to place the Effective Altruism types (eg the FTX boys) and the alt-white types (eg the Unz boys) at opposite ends of a spectrum. They’re not opposite at all, not even in the wraparound ‘horseshoe graph’ sense. They’re identical with slightly different labeling. Both groups are cullers. They…
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Would be a nice experiment
Thinking about hucksters who formerly needed to “demonstrate” their systems and machines. Here’s a pretty good modern demo for bitcoin. A sort of Tide Pod Challenge. Nocoiner and Procoiner are on Zoom. Nocoiner challenges Procoiner to a race. Each of us will pick a song on Spotify. After we pick, we’ll show them on Zoom…
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